A reference is one of the best ways to help assess the potential risk when vetting new tenants for your property. Here are 5 tips for writing a tenant reference or click here for a template letter. Keep the letter formal Introduction e.g. Dear / To whom it may concern Clearly show what the letter
When you are calculating the net rental profit for your property lettings portfolio, allowable expenses should be deducted from the income to determine the net profit. Rental income on foreign property needs to be declared separately as foreign income. You should also know: You’re allowed to deduct expenses on one property against the receipts on
If your tenant has stopped paying their rent it doesn’t have to turn into a nightmare. The first thing to remember is the difference between a tenant who can’t pay their rent as opposed to a tenant who won’t pay their rent. Here are some suggestions about how to resolve the situation. It’s good to
Rental property can provide a good income but there are costs involved as well. Letting agents The basic service offered is to find you a tenant, including advertising, interviews and credit checks. Agents will also offer a full management service which includes finding a tenant plus managing the property and tenants for you, collecting rent
Once someone has died the validity of their will have to be officially proved – this is called probate. Once probate is granted the process of administering the estate including money, possessions and property can go ahead. Time limit for applying for probate The probate application has no time limit but other elements of the
As many commercial and residential buildings remain empty over periods of lockdown, experts are concerned that these have the potential for a build-up of legionella bacteria, responsible for Legionnaires’ disease. Why it happens Legionella bacteria can grow and multiply in building water systems, particularly when water is left stagnant or tepid, or the system is
It’s Christmas day, and you wake up to open your presents. Brrr! It’s cold! You go to put the boiler on, only to realise that it’s not working. What do you do? Probably panic. You can avoid this worst-case-scenario by getting your boiler checked before winter is in full swing. Although you can’t guarantee your
Many landlords will have been relieved to hear that after a 5-month ban, they would finally be able to start court proceedings for evictions from the 23rd August. However, on the 21st of August, the Government announced that there would be an eviction ban extension for a further four weeks until the 20th September. Support for renters
As the cost of rent continues to rise across the UK during the coronavirus, tenants are increasingly struggling to keep up. Due to many commercial and residential tenants across the UK facing financial difficulties amid the COVID-19 Government-imposed lockdown, this has meant that despite this rise in rental premiums, landlords are receiving thousands less in
As the UK housing market slowly unfurls back into action following the latest Government advice for certain businesses, industry professionals have warned that rebooting the market won’t be a quick process. We take a look at what people across the industry are predicting for the future of the property and buy to let markets in
